Prestige Group Acquires Allure Developers for ₹524 Crore

Prestige Estates Projects Ltd has acquired a 100% stake in Allure Developers Pvt Ltd for ₹523.76 crore to develop a residential project in Sector 150, Noida, as part of its expansion plans in Delhi-NCR. The company entered into a share purchase agreement on November 6, 2026, according to a regulatory filing.

Following the acquisition, Allure Developers has become a wholly owned subsidiary of Prestige Estates Projects Ltd. The consideration will be paid in tranches.

Allure Developers is currently undertaking the development of a residential project in Noida's Sector 150.

The acquisition adds the project to Prestige Group's portfolio in the Delhi-NCR region.

Also Read: Prestige Estates to Invest ₹15,000 Crore in New Projects

Prestige Group Continues Acquisition Activity

The latest transaction follows another acquisition by Prestige Estates Projects involving Gloind Vintage Infra, in which the company acquired 100% equity for an enterprise value of ₹519 crore through its subsidiary, Prestige Retail Ventures.

Upon completion of that transaction, Prestige Estates will indirectly hold Gloind's equity share capital.

It will also gain indirect ownership and control of 100% of Tarun Realtors, a subsidiary of Gloind Vintage Infra, which owns a shopping mall in Bengaluru.

Also Read: Prestige Estates Buys 2-Acre Mulund Land for ₹110.75 Crore

Prestige Estates Reports Decline in Quarterly Profit

Prestige Estates Projects reported a 44% decline in consolidated net profit to ₹256.

2 crore for the quarter ended September, compared with ₹457.4 crore in the corresponding period of the previous year.

The company's total income also declined to ₹2,222.2 crore during the second quarter of the current fiscal year, from ₹2,697.8 crore in the corresponding period a year earlier, according to its regulatory filing.

For the April-September period, the company's profit stood at ₹527.6 crore, compared with ₹768.9 crore in the year-ago period.

Total income during the first half of the fiscal year was ₹5,057.8 crore, against ₹5,166.5 crore in the corresponding period of the preceding year.

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